A workers education has an effect not just on his own salary but on the entire community around him. 0000001602 00000 n In total, two-thirds of American jobs are in the local service sector, and that number has been quietly growing for the past fifty years. In the end, Breedlove quit his job, sold the Silicon Valley house, packed, and moved the family to Visalia. As old manufacturing capitals disappear, new innovation hubs are rising and are poised to become the new engines of prosperity. A part of the $321 that Apple receives ends up in the pockets of Apples stockholders, but some of it goes to Apples employees in Cupertino. New Geography of Jobs - Chapter 1 American Rust - 1 In 1969, David Breedlove was a young engineer with a beautiful wife and a house in Menlo Park. As Morettis own research explains, these riches spread beyond skilled workers themselves. Studies show that the more innovative a company is, the better paid its employees are. Incredibly, when it reaches the American consumer, only one American worker has physically touched the final product: the UPS delivery guy. Nevertheless, he was considering leaving Menlo Park to move to a medium-sized town called Visalia. At the other extreme are cities once dominated by traditional manufacturing, which are declining rapidly, losing jobs and residents. Uploaded by [Enrico Moretti] -- From the author, an economist, this book is an examination of innovation and success, and where to find them in America. "Kirkus Reviews, "Wow. If you have not heard of it, you will. From a rising young economist, an examination of innovation and success, and where to find them in America. 0000000832 00000 n These apply to salaries and wages; high-school graduates in highly skilled cities earn much more than high-school graduates (and sometimes college graduates) in low-skilled cities. In this important and persuasive book, U.C. Not surprisingly, innovators capture the largest share of the value of new products. But innovation is not limited to high technology. An Overview of the Sunbelt in the U.S. - ThoughtCo Breedlove liked his job and had even turned down an offer from Hewlett-Packard, the iconic high-tech giant in the Valley. From a rising young economist, an examination of innovation and success, and where to find them in America.
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